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    Référence: 20190454
    Date de publication: 24 novembre 2021

    Promoteur – Intermédiaire Financier

    ACCEPTABLE CORPORATE(S)

    Lieu

    Description

    The proposed operation concerns a participation in Middle East Venture Fund IV (the "Fund"), a closed-end venture capital fund focusing on start-ups active in the digital and technology sectors in the Middle East and North Africa (MENA) region.

    Additionality and Impact

    This operation will contribute to the growth the Venture Capital ("VC") market in the Middle East North Africa ("MENA") region, which still lags in terms of total funding as a ratio to GDP compared to established countries (in 2019 this ratio was at 0.03% in the MENA region compared to 0.63% in the US, 0.35% in India and 0.23 in China). Founded in 2010 and with a proven track record, the fund manager is uniquely positioned to deploy the intended investment strategy. It has showed it could support regional and world champions such as Anghami, the MENA replica of the music streaming application Spotify.

     

    The EU has the ambition to address the digital divide in partner

    countries including the Neighbourhood Countries and Africa. In March 2021, 25

    Member States signed the European Gateway Ministerial Declaration to support

    the connectivity between the EU and its international partners. The project

    supports Europe's ambitions to encourage the region's transition to a digital

    economy. 

     

    EIB as anchor investor has been able to contribute to the

    structuring of this investment proposal raising standards and thus the Fund

    Manager is now better positioned to attract international reputable private and

    public investors for the long-term.



    Objectifs

    The Fund will focus on start-ups with high growth potential and support them in growing from Seed stage to Series A, Series B, with the objective of becoming national and regional champions. Through its investments, the Fund is expected to contribute to several Sustainable Development Goals including SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation and Infrastructure).

    Secteur(s)

    • Services - Activités financières et d'assurance

    Montant BEI envisagé (montant approximatif)

    EUR 20 million

    Coût total (montant approximatif)

    EUR 96 million

    Aspects environnementaux

    The Fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the EIB.

    Passation des marchés

    N/A

    Statut

    Signé - 19/12/2022

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

    Ensemble des Pays Méditerranée Services